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6/29/2010

Selling in bits or all in one go

What is the difference in selling our land to foreigners in bits and pieces or all at one go? At the rate we are selling them, it is just a matter of time before we hit 20%, 30% or 50% of what we have, if the process is not stopped. I don't think any Singaporean will think that it is acceptable if someone is to announce that we sell 30% or 50% of our land away. Unthinkable. But if the selling is in bits and pieces, 500 sq m here and 1000 sq m there every other day, no one will notice or feel a thing. How much of our freehold residential land is now foreign own? This shall include the high rise freehold properties that can be sold to foreigners as well.

7 comments:

Wally Buffet said...

According to my.... ahem, outdated knowledge on property matters, freehold land cannot be sold to foreigners. Foreigners can only buy condo developments of more than 6 storeys.

But of course, nowadays, "foreigners" can be very vague. You may be a "foreigner" but if you want to, you can be a citizen real fast, what we call "newly minted" citizens. Having said that, this is nothing new because since a long long time ago, the rich Indonesians have been buying land this way. Only difference now is that the PRC Chinese are taking over with their deep pockets.The rich Malaysian or Indonesian has been relegated to second or third league.

Actually, my suggestion may be ludicrous but if I have a say, I would convert some of our islands into foreign enclaves linked to the mainland by a bridge. This way, they can live within Singapore jurisdiction and at the same time, the rights and privileges of our own citizens are not impinged.

Anonymous said...

Selling off Sg is the wisest act of the clever leaders. See no reason why not reap the wealth now and buy others properties in bigger countries at lower prices. Monies are being cleverly invested in big nations like China, Australia, India, Thailand and anywhere you name it.

Sg sells itself at high prices and bought others at offer prices, where else can you find such clever leaders ? Sell ! By bits or by one go, does not matter at all. Do Singaporeans care who their leader are ? Do the leaders make any difference to Singaporeans ?

I prefer businessmen run Sg than politicians who lord over their citizens 7/11.

Matilah_Singapura said...

Plurality of ownership is the safest in the long run. Meaning: the more people who own, the better. In that way no single individual or group can have a "monopoly" and adopt widespread exclusion.

Ownership == right to exclude. If you have only a few owners of large chunks, you will have problems, ending up in the old feudal system.

Having foreigners own land adds another margin of safety -- especially for the locals. It makes it more difficult (not impossible) for the state to kapoh already owned land.

Notice how the land holdings of the sultans have prevented the govt from kapohing the land.

Anonymous said...

I think it is heaven's will. They squeezed and extorted money from Citizens only to lose them big on investments overseas by the hundreds of millions.

Anonymous said...

We should sell our national defence to other countries as well. There will shortly be nothing left to treasure and protect as it seems everything can be sold if the price is right. See no reason why our sons should waste their two years in the army when there is no sense of ownership in this country.

Anonymous said...

This original piece of land belong to nature,trees,insects,animals and birds etc.You people came to stay and cut down the trees and chase us away.We gave way so that you people got a roof over you.But you people are now making money out of me.How can.We are sending our TaiKor to flood once a while to wake up you human's greed.Pls reserve some space for me .
kookookoo..

Chua Chin Leng aka redbean said...

Don't worry about insects or animals. They will be protected when they are threatened with extinction. There is value for rarity.